Addressing unemployment through industries

Jammu and Kashmir is all set to get four new industrial estates. The industrial scenario in J&K has changed completely during the past three years as many big national and international business houses have shown keen interest in setting up the industries in J&K.
During the past two years, more than 3,300 applications have been approved by the government to set up industrial units. Till date 1879 applicants have been given the Letter of Intent and lease deeds have been executed in favour of 260 applicants. In 111 industrial estates, 9,869 kanals of land has so far been allotted to the prospective unit holders. These unit holders have in turn deposited a sum of Rs 217 crore into the government exchequer as their lease dues.
The “Land Bank” created by the government on 25,000 kanals of state land for industrial investments has almost been exhausted as the response from national and international investors has been encouraging.
The government has now acquired new land. It will be allotted after proper development. Tenders for its development have been issued. Water and electricity connections are being installed so that the investors don’t face any difficulties in setting up their units.
According to the officials the J&K Government has received new investment proposals worth Rs 20,000 crore from April 2022, to August 2022. These proposals would be cleared as soon as the new “Land Bank” is created.
Union Minister of State (MoS) for Commerce and Industry, Anupriya Patel recently announced that four new industrial estates will come up in J&K with an aim to ensure employment to the youth in the Union Territory.
These industrial states are coming up under the New Industrial Policy announced for J&K. The aim of the government is clear. It wants to turn J&K into an industrial hub to address the issue of unemployment and to give a boost to J&K’s economy.
Besides setting up the industrial estates on the state land the government is inviting proposals from private players to set up private industrial estates in J&K. The “New Industrial Policy” is aimed at revamping the industrial infrastructure in Jammu and Kashmir and the government seems determined to create more and more avenues for the people, especially youngsters.
The unemployment can be tackled through industrialization and one hopes that the helmsmen succeed in their endeavors.